Principles of Real Estate Questions With
Correct Answers.
They limit consumer choice.
Why are antitrust activities illegal?
No, because the buyer's consideration is promise to buy.
In a purchase offer, is earnest money required to have a binding contract?
Yes, Sarah can require that Robert fulfill the contract terms.
Robert and Sarah enter into a contract for Sarah to purchase Robert's home. Robert decides he
doesn't ant to sell and is elated when he finds out that Sarah's only 17 years old. Can Sarah force
Robert to sell?
An east-west line used as a reference point.
In the rectangular government survey system, what's a base line?
A list of contacts, both personal and professional, who already know and trust the licensee.
Who or what is a licensee's sphere of influence?
Give the proceeds to the beneficiary
When a land trust expires, the trustee must either extend the trust term or sell the real estate and
_____.
Estate/inheritance lien
What type of lien is defined as an involuntary lien placed on all of the property received by a deceased
person's heirs?
Any contract or conspiracy resulting in the substantial decrease of competitive trade or commerce
within the state.
Which of the following does the Texas Free Enterprise and Antitrust Act of 1983 make unlawful?
Real property tax lien
Which type of lien is placed against property owners who have not paid their property taxes?
When supply is low and demand is high
What does a seller's market occur?
By multiplying the property's assessed value by the tax rate.
How is ad valorem property tax calculated?
When attempting to obtain flood insurance in some areas.
When is an elevation certificate required?
beneficiary
, All trusts have three parties: the trustor, the trustee, and the _______.
Estate at will
Which of the following is a leasehold estate for an unknown period of time, with either party
permitted to terminate the lease by giving notice to the offer?
Prompt presentation of all written offers and counter-offers.
Which of the following fiduciary duties is owed to both clients and customers?
Resolve missed payments
Which of the following is a way to improve your credit score?
A survey that includes a legal description and a survey sketch.
What does a land surveyor produce?
Real estate appraiser
In the real estate business, which professional's primary role is to estimate property value based on
established valuation guidelines?
Timeshare use
Ellen and Isaac have a timeshare near the Grand Canyon. They'll be able to use it for two weeks every
September, for the next eight years. What type of timeshare is this?
5,280 feet
How long is a mile?
Plessy vs. Ferguson
Which decision stated that separate facilities for blacks and whites were constitutional as long as they
were "equal?"
General
Property managers most often serve as which type of agent?
Open listing
In which type of listing agreement will a seller contract with multiple agents but only pay commission
to the agent who locates a buyer?
The funds are used to buy, build or improve the home that secures the loan.
For tax years 2018 to 2025, a borrower can write off the interest on a home equity loan only if _____.
The Community Reinvestment Act
What act was introduced to combat discriminatory lending practices against individuals and business
in low and moderate- income neighborhoods?
Correct Answers.
They limit consumer choice.
Why are antitrust activities illegal?
No, because the buyer's consideration is promise to buy.
In a purchase offer, is earnest money required to have a binding contract?
Yes, Sarah can require that Robert fulfill the contract terms.
Robert and Sarah enter into a contract for Sarah to purchase Robert's home. Robert decides he
doesn't ant to sell and is elated when he finds out that Sarah's only 17 years old. Can Sarah force
Robert to sell?
An east-west line used as a reference point.
In the rectangular government survey system, what's a base line?
A list of contacts, both personal and professional, who already know and trust the licensee.
Who or what is a licensee's sphere of influence?
Give the proceeds to the beneficiary
When a land trust expires, the trustee must either extend the trust term or sell the real estate and
_____.
Estate/inheritance lien
What type of lien is defined as an involuntary lien placed on all of the property received by a deceased
person's heirs?
Any contract or conspiracy resulting in the substantial decrease of competitive trade or commerce
within the state.
Which of the following does the Texas Free Enterprise and Antitrust Act of 1983 make unlawful?
Real property tax lien
Which type of lien is placed against property owners who have not paid their property taxes?
When supply is low and demand is high
What does a seller's market occur?
By multiplying the property's assessed value by the tax rate.
How is ad valorem property tax calculated?
When attempting to obtain flood insurance in some areas.
When is an elevation certificate required?
beneficiary
, All trusts have three parties: the trustor, the trustee, and the _______.
Estate at will
Which of the following is a leasehold estate for an unknown period of time, with either party
permitted to terminate the lease by giving notice to the offer?
Prompt presentation of all written offers and counter-offers.
Which of the following fiduciary duties is owed to both clients and customers?
Resolve missed payments
Which of the following is a way to improve your credit score?
A survey that includes a legal description and a survey sketch.
What does a land surveyor produce?
Real estate appraiser
In the real estate business, which professional's primary role is to estimate property value based on
established valuation guidelines?
Timeshare use
Ellen and Isaac have a timeshare near the Grand Canyon. They'll be able to use it for two weeks every
September, for the next eight years. What type of timeshare is this?
5,280 feet
How long is a mile?
Plessy vs. Ferguson
Which decision stated that separate facilities for blacks and whites were constitutional as long as they
were "equal?"
General
Property managers most often serve as which type of agent?
Open listing
In which type of listing agreement will a seller contract with multiple agents but only pay commission
to the agent who locates a buyer?
The funds are used to buy, build or improve the home that secures the loan.
For tax years 2018 to 2025, a borrower can write off the interest on a home equity loan only if _____.
The Community Reinvestment Act
What act was introduced to combat discriminatory lending practices against individuals and business
in low and moderate- income neighborhoods?
